Microsoft posted its first quarter financial results for its current fiscal year, revealing that it raked in $18.5 billion in revenue for the three-month period ending on September 30th. The numbers represent a 16 percent increase in revenue compared to the same period a year ago. Microsoft also reported overall net income of $5.24 billion, a year-over-year increase of 17 percent.
While Xbox 360 unit sales were down 29 percent year-over-year to 1.2 million units for the quarter, the company's Devices and Consumer Hardware division it falls under was still up 37 percent to $1.49 billion. The uptick was attributed to sales of the company's Surface tablet, which enjoyed an estimated $400 million in sales during the period – a product the company didn't have the benefit of during Q1 2012.
The division also saw a 17 percent increase in revenue to $1.64bn, mostly due to Microsoft's first-party video games sales and Xbox Live transactions. That "transactional revenue" from Xbox Live was up more than 25 percent year-over-year, according to Microsoft.
In a conference call to discuss results for the quarter, CFO and executive Vice Present Amy Hood said that the Xbox One will be "the biggest in Xbox history."
Microsoft expects the console launch to help push its Devices and Consumer Hardware quarterly revenue up by as much as 35 - 40 percent.